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The Harland and Wolff yard, better known for building the Titanic, has been bought by a UK firm for a total of £6m by InfraStrata, a energy firm based in London.
Harland and Wolff went into administration in August following the collapse of its parent company.
They hope to increase the workforce by several hundred over five years.
Chief executive of InfraStrata John Wood said:
“Harland and Wolff is a landmark asset and its reputation as one of the finest multi-purpose fabrication facilities in Europe is testament to its highly skilled team in Belfast.”